Container ship stuck in Suez Canal freed after almost a week

She's Free: Giant Ship Stuck In Suez Canal Afloat Traffic Resumes

They tried to use high tides and a full moon to pull it from the sandy bank it smashed into during high winds, in an operation that also involved shovelling 30,000 cubic meters of sand and removing part of the canal wall. Many ships did not wait and left to travel around the Cape of Good Hope at Africa's southern tip.

The video showed tug boats moving around the Ever Given container ship and voices could be heard shouting in celebration.

Finally, the official indicated that the Ever Given was undergoing technical inspection, after which it would be sent on its way to its destination in Rotterdam, the Netherlands. The obstruction is holding up $9 billion each day in global trade and straining supply chains already burdened by the coronavirus pandemic.

According to the Associated Press, the Ever Given was pulled from the canal's sandy bank Monday by several tugboats that had been working to free the ship for almost a week.

The MV Ever Given was refloated and the Suez Canal reopened on Monday, sparking relief nearly a week after the huge containership got stuck during a sandstorm and blocked a major artery for global trade.

Egypt, which considers the canal a source of national pride and crucial revenue, already has lost over $95 million in tolls, according to the data firm Refinitiv.

The MV Ever Given, longer than four football fields, has been wedged diagonally across the canal since Tuesday, towering over nearby palm trees and strangling world supply chains.

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Egyptian President Abdel Fattah al-Sisi, who had not publicly commented on the blockage, said Egypt had ended the crisis and assured resumption of trade through the canal.

Hundreds of other vessels remained trapped in the canal waiting to pass, carrying everything from crude oil to cattle.

While the canal is now unblocked, it is unclear when traffic would return to normal. "I thank every honest Egyptian who contributed technically and practically to ending this crisis".

The partial freeing of the vessel came after intensive efforts to push and pull the vessel with 10 tugboats when the full moon brought spring tide, Leth Agencies said, raising the canal's water level and hopes for a breakthrough.

After the 200,000-ton ship was refloated, it was expected to take around 3½ days to clear the traffic jam of ships, Rabie said, praising rescue efforts.

Millions of barrels of oil and gas move through the canal from the Persian Gulf to Europe and North America.

"Since most of the imports blocked over the last week are heading to Europe, U.S. consumers will likely see little effect on prices of U.S. imports, except to the extent that intermediate products of U.S. final goods are made in Europe", said Bergstrand, professor of finance at the University of Notre Dame's Mendoza College of Business.

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